World Economy

Ruble Decision Right

Ruble Decision RightRuble Decision Right

The decision on the floating ruble rate was absolutely correct and no grounds exist for devaluation shocks at present, Russian Minister of Economic Development Alexey Ulyukayev said on Tuesday, Tass reported. “I believe this decision [on the floating rate] was absolutely correct and was taken in challenging environment. I think highly of actions taken by the management of the Bank of Russia in this area,” the minister said. Ulyukayev also noted that he sees potential for reduction of the Central Bank’s key interest rate to single-digits in the first quarter of 2016.